Da Nang introduces exclusive offers to woo investors

A view of the central city of Da Nang. (Photo: VNA) Da Nang (VNA) – The central city of Da Nang has introduced a number of open-door policies to lure investors in 2018, which has been set by the city as a year of investment attraction. Accordingly, investors setting up new projects at Da Nang Hi-tech Park will be subject to a favourable corporate income tax (CIT) rate of 10 percent for 15 years, compared to the standard rate of 20 percent. Those investors with projects valued at 3 trillion VND (133 million USD) or more will enjoy the preferential CIT rate for 30 years. Other specialised incentives include a four-year tax exemption and a 50 percent cut in income tax for the following nine years for new projects in the high-tech park. At Da Nang IT Park, domestic investors will be offered land-use fee exemptions, with foreign investors given land-rent exemptions, for the operation of projects involving initial construction of technical infrastructure in the area. Projects in IT research and development (R&D) and human resources training will be granted land-rent exemption for two years and a 50 percent cut in rent rates for the next three years. In addition, the resort city encourages private investment in the fields of education and vocational training, healthcare, culture, sports, environment and judicial assessment. Any project in these fields established on Hoang Sa island and in Hoa Vang district will also be subject to land-rent exemption. The 1,100ha Da Nang Hi-tech Park is… [Read full story]